News

Porsche is set to post a major quarterly loss as CEO Oliver Blume ends his ten-year tenure. The company faces a sharp decline in China, rising US tariffs, and mounting costs from its troubled shift to electric vehicles, Reuters reports.

Michael Leiters, former McLaren boss, will take over in January. Investors hope he can revive demand in China and guide Porsche through its EV challenges, though confidence remains weak.

Analysts expect a €611 mln operating loss for the third quarter, compared with a €974 mln profit last year, largely due to €1.8 bn in EV-related costs.

Blume predicts recovery...

Musician and storyteller Dave Carroll has released a new protest song, «Don’t Fly Wizzness Class,» tackling airline mistreatment and calling for greater fairness and respect.

The Canadian artist, known for his viral «United Breaks Guitars» series, collaborated with Sukhrob Ubaydullaev from Uzbekistan, whose ordeal with Wizz Air in 2023 inspired the project.

Ubaydullaev and three other Uzbek passengers were denied boarding their flight from Rome despite valid tickets. They were given no explanation or compensation. With his student visa close to expiry, Ubaydullaev was forced to travel to Turkey, where he became stranded for a week before eventually returning...

Saida Mirziyoyeva, Head of the Presidential Administration, congratulated the winners and participants of this year’s Zakovat-Gambit chess tournament.

Now in its fourth year, the tournament gathered 2,210 players from across Uzbekistan, including 286 women and girls, whose strong performance was particularly commended. Mirziyoyeva noted that Zakovat-Gambit has not only boosted interest in chess but also helped young people develop strategic thinking, patience and ambition.

«We have moved from scepticism to international recognition and pride in our chess players. This success reflects trust, dedication and teamwork,» she wrote, adding that chess is an intellectual discipline that...

Condor Energies, a Canadian energy transition firm active in Central Asia, has completed the vertical section of its first gas well in Uzbekistan, reaching a depth of 2,805 metres. The pilot well confirmed gas-bearing zones in both carbonate and deeper clastic reservoirs, with 28.5 metres and 9.1 metres of net gas pay respectively.

The company is now sidetracking the well horizontally, aiming for a 1,000-metre section, the longest ever drilled in Uzbekistan. Completion and testing are expected by November 2025, with projected initial output between 13 and 20 MMscf/day.

Condor is also deploying a second rig to drill in...

From 2026, Uzbekistan will introduce tax incentives for companies developing satellite communication systems. President Shavkat Mirziyoyev has signed a decree aimed at enhancing internet and telecom services in remote areas.

Under the new policy, firms deploying satellite networks in medium and low Earth orbits will be exempt from customs duties, VAT and profit tax for five years. The government also plans to establish legal frameworks to support satellite internet in regions lacking terrestrial network coverage.

Kursiv also reports that in Karakalpakstan, investors who put more than $100 mln into artificial intelligence infrastructure will pay an electricity tariff...

Uzbekistan is rapidly developing its logistics and warehouse infrastructure, emerging as a key player in the Eurasian market. According to the Eurasian Development Bank, the country’s total warehouse space will reach 600,000 sq m by 2025, driven by a construction boom that began in 2021.

Together with Russia, Belarus and Kazakhstan, Uzbekistan is helping shape a new regional logistics system. Experts predict that by 2040, demand for warehouse space could more than double to over 120 mln sq m.

Foreign trade volumes are expected to grow from 1,278 mln tonnes in 2023 to between 1,420 and 1,809 mln tonnes...

According to a forecast by Boston Consulting Group, Uzbekistan’s electricity consumption is expected to nearly double by 2035, rising from 68 to 123 bn kWh. This was announced by Igor Alekseev, Managing Director at BCG, during the «Investor Day» event, as reported by Kursiv Uzbekistan.

The primary drivers of this growth will be the industrial sector, residential consumption, transport and digital infrastructure. Industrial enterprises are projected to increase their electricity usage from 27 to 56 bn kWh. Household consumption will grow from 19 to 28 bn kWh, while the transition to electric heating will contribute an additional 10 bn kWh...

Since January 2025, Uzbekistan’s solar and wind power stations have produced 9 bn kWh of electricity, Ministry of Energy reports. The country now operates 12 solar and 5 wind farms with a combined capacity of nearly 4.7 GW. This clean energy helped save 2.7 bn cubic metres of natural gas and prevented around 4 mln tonnes of harmful emissions.

In total, Uzbekistan’s hydro, solar and wind facilities have generated 14.5 bn kWh this year, accounting for roughly 23% of national electricity output. That’s enough to supply about 7.5 mln households for ten months.

Kursiv also reports that Allied...

Members of the Afghanistan women’s refugee football squad were prevented from flying to the United Arab Emirates after their visa applications were rejected, forcing FIFA to relocate their debut matches to Morocco.

The team, known as Afghan Women United, had been due to compete in the FIFA Unites: Women’s Series against Chad and Libya this week. Despite being advised by FIFA to go to airports while visas were pending, players were told not to board flights, leaving many traumatised and recalling memories of their evacuation from Kabul in 2021.

FIFA later announced that «unforeseen travel challenges» led to the...

South Korea’s former first lady Kim Keon Hee faces fresh controversy after the Korea Heritage Service (KHS) said she sat on the king’s throne in Geunjeongjeon Hall at Gyeongbokgung Palace during a closed-door visit in September 2023.

The KHS said the presidential office requested the private tour while the palace was shut to the public; an official told the National Assembly that Kim «walked up the steps… and sat on the throne.» The red-and-gold seat, considered the highest symbol of Joseon-era authority, is normally off-limits; KHS noted the chair used was a replica, not the original. No past president...

Booker prize–winner Ian McEwan has criticised the modern obsession with carrying water bottles, calling it «deranged» during a talk at the Cheltenham Literature Festival.

«Thirty years ago, nobody had bottles of water… Suddenly we were persuaded you can’t go 10 minutes without being thirsty,» he said, lamenting the surge of single-use plastics and status-symbol flasks.

The comments tap into a booming hydration trend led by Gen Z and millennials, fuelled by social media movements like #WaterTok and the viral rise of Stanley cups, whose sales exploded after a 2023 video showed one surviving...

Frequent use of a widely prescribed class of drugs known as anticholinergics may accelerate physical ageing in older adults, according to new research published in JAMA Open Network.

The study, which tracked more than 4,000 adults between 1994 and 2020, found that high exposure to anticholinergic medications, used to treat conditions such as COPD, bladder disorders, and Parkinson’s disease, was linked to a faster decline in walking speed, though grip strength remained largely unaffected.

Anticholinergic drugs block acetylcholine, a neurotransmitter vital to nerve communication, which can lead to cognitive and sedative side effects. Researchers warn that prolonged use may...

Scottish consultant Sam Struan, formerly known as Sam Sung, became an internet sensation after a photo of his Apple business card went viral while he was working in Vancouver.

He recalls receiving endless calls and messages after someone posted the card online in 2012. At first, he feared losing his job, thinking Apple would see it as bad publicity.

«I was terrified,» he said. «But if Apple had fired me, it would have caused even more noise.»

Apple briefly pulled him off the shop floor and told colleagues not to confirm his identity to curious...

The European Union has published its latest sanctions list, which includes several banks from Kazakhstan, Kyrgyzstan and Tajikistan. In total, five financial institutions have been added under the EU’s 19th sanctions package.

The measures target Spitamen Bank and Tajikistan Commercial Bank in Tajikistan. Tolubay Bank and Eurasian Savings Bank in Kyrgyzstan. As well as the Kazakh subsidiary of VTB Bank.

The sanctions will take effect on November 12, 2025 and involve the freezing of assets and a ban on financial transactions within the European Union.

Between January and September 2025, Uzbekistan registered 177,000 marriages. This is a 1.3% decline compared to the same period last year, when 179,400 couples tied the knot. Meanwhile, the number of divorces rose from 34,000 to 35,400, marking an increase of 4.1%, the National Statistics Agency reports.

The agency noted that marriage rates have been falling for five consecutive years. In 2021, 206,800 marriages were registered across the country, but by 2025 this figure had dropped by 29,800, or 14.4%. Over the same period, divorces rose from 29,100 to 35,400 — an increase of 21.6%.

As a result, the proportion...

Google has announced a major milestone in quantum computing, unveiling an algorithm that completed a molecular computation faster than any known classical supercomputer.

The company said the algorithm, developed by its Quantum AI division, marks the first time a verifiable quantum computation has surpassed traditional machines.

«This repeatable, beyond-classical computation is the basis for scalable verification, bringing quantum computers closer to practical applications,» Google said in a statement.

According to Nobel laureate Michel Devoret, Google’s chief quantum scientist, the result represents «a new step towards full-scale quantum computation.» Published in Nature, the peer-reviewed...

Kazakhstan’s Defence Ministry announced on October 23, that it was strengthening airspace monitoring after a drone of unknown origin exploded in the country’s western region near the Russian border.

According to a statement shared on Telegram, the blast took place in a remote area roughly 180 kilometres west of the Russian city of Orenburg, which had been targeted by Ukrainian drones the previous week. The ministry did not specify where the drone came from, noting only that «consultations are underway with foreign partners who may potentially own these devices.»

The incident comes as Kazakhstan faces the effects of intensified...

Lokomotiv Moscow secured a 3–0 victory over CSKA in the 12th round of the Russian Premier League on October 18.

The match, held at Lokomotiv’s home ground, saw goals from Aleksei Batrakov (17’), Dmitry Vorobyov (45+3’) and Nikolai Komlichenko (88’). Vorobyov scored the highlight goal of the match with a strike from an almost impossible angle. With 26 points, Lokomotiv lead the standings on goal difference over Krasnodar, while CSKA, on 24 points, remain third.

Lokomotiv will face Akron Tolyatti away on October 26, while CSKA host Krylia Sovetov the day before.

Match Rundown

The army side went...

Uzbekistan has extended its visa-free travel policy to citizens of six additional countries, while also lengthening the permitted stay for visitors from China.

According to a Cabinet resolution dated October 21, nationals of Bahrain, Saudi Arabia, Oman, Qatar, Kuwait and Jordan can now visit Uzbekistan for up to 30 days without a visa.

For Chinese citizens, the visa-free period has been increased from seven to 30 days, though the rule for Hong Kong residents remains unchanged.

The government has also simplified the process of obtaining business visas for 15 countries. Citizens from Austria, Belgium, the United Kingdom, Germany, Spain...

The VEB Research Institute has forecast Uzbekistan’s GDP to rise by 6.7% in 2025, exceeding the consensus estimate of 6.1%. Growth is expected to remain robust at around 6.0–6.2% in 2026–2027.

According to analysts, this strong performance will be supported by steady population growth, rising domestic demand, and an expanding private sector. Additional drivers include higher gold and uranium production and exports, stronger inflows of foreign direct investment, and increased cross-border remittances.

Inflation and Monetary Policy

Inflation is projected at 8.6–8.7% in 2025, slowing to 6.0–7.0% in 2026–2027. The Central Bank is expected to maintain moderately tight monetary policy...

The Centre for Economic Research and Reforms (CERR) has released an updated analysis of trends in Uzbekistan’s automotive market. In September, car sales reached 84,600 units, a 6.4% drop compared with August. The sharpest declines were recorded in the Surkhandarya and Navoi regions, as well as in Tashkent city. Sales increased in the Syrdarya and Tashkent regions.

Primary And Secondary Markets

Sales of new cars saw a moderate seasonal decline, falling by 15.2% to 31,900 units in September. Domestically produced vehicles continued to dominate the market, with 27,400 units sold, but showing a 16.1% decrease from August. Sales of...

The Asian Development Bank (ADB) has approved a $100 mln concessional loan to help Uzbekistan improve science, technology, engineering and mathematics (STEM) education in secondary schools.

The project aims to equip young people with modern, innovation-driven skills essential for sustainable growth and supports Uzbekistan’s goal of achieving upper middle-income status by 2030.

«This project reflects Uzbekistan’s commitment to investing in human capital and empowering its youth,» said ADB Country Director Kanokpan Lao-Araya.

Around 200 schools will be upgraded with modern laboratories, ICT infrastructure, solar systems and inclusive facilities, becoming resource centres for neighbouring schools...

Oil prices rose by roughly 2.5% on October 23, extending the previous day’s gains, after the United States imposed sanctions on Russia’s leading oil producers Rosneft and Lukoil amid ongoing fighting in Ukraine.

By 03:03 GMT, Brent crude futures had increased by $1.56, or 2.49%, to $64.15 a barrel, while US West Texas Intermediate (WTI) crude gained $1.53, or 2.62%, reaching $60.03. Washington warned it was ready to take additional measures as it urged Moscow to agree immediately to a ceasefire.

President Donald Trump, who had long resisted calls from US lawmakers to introduce energy sanctions, said he now...

The ancient Silk Road city of Bukhara has stepped onto the global culture map with the debut of the Bukhara Biennial, a contemporary art and design festival running through 20 November 2025 across its UNESCO-listed old town.

Curated exhibitions transform historic madrasas and mosques into open-air galleries: Delcy Morelos’s turmeric-scented pyramid, Antony Gormley’s brick human forms with Temur Jumaev, Jazgul Madazimova’s soaring wave of headscarves, Ruben Saakyan’s hidden floral gardens, and Laila Gohar’s rock-sugar pavilion. Uzbek designer-artist Jenia Kim (J.Kim) presents an installation inspired by the city’s whimsical stork scissors.

The Biennial opened with a candlelit gala at the...